Bangor Symphony Orchestra
- Assets
- $3.7m
- Revenue
- $929.0k
- Investments
- $17.7k
- Employees
- 6
- Location
- Bangor, ME
- Founding
- 06/1968
- Data as of
- 06/2021
- EIN
- 01-0024645
Organization Overview
Bangor Symphony Orchestra is located in Bangor, ME. The organization was established in 1968. According to its NTEE Classification (A69) the organization is classified as: Symphony Orchestras, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Bangor Symphony Orchestra employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bangor Symphony Orchestra is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Bangor Symphony Orchestra generated $929.0k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $595.2k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE BANGOR SYMPHONY ORCHESTRA PROVIDES POWERFUL, ENRICHING AND DIVERSE MUSICAL EXPERIENCES THROUGH LIVE CONCERT PERFORMANCES AND EDUCATION PROGRAMS OF THE HIGHEST QUALITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONCERTS - THE BSO PRODUCES LIVE CLASSICAL MUSIC PERFORMANCES FOR OVER 10,000 ATTENDEES FROM THROUGHOUT CENTRAL MAINE. THE BSO PRODUCES MULTIPLE CLASSICAL MUSIC CONCERTS, A POPS CONCERT, EDUCATIONAL CONCERTS FOR YOUNG PEOPLE.
EDUCATION - THROUGH THE BANGOR SYMPHONY YOUTH ORCHESTRAS AND VARIOUS OUTREACH PROGRAMS. THE BSO PROVIDES ACCESSIBLE EDUCATIONAL OPPORTUNITIES TO YOUTH IN THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Hinrichs Executive Director | Officer | 40 | $62,575 |
Eric Steadman Treasurer | OfficerTrustee | 1 | $0 |
Thomas Gower Vice President | OfficerTrustee | 1 | $0 |
Elizabeth Sutherland President | OfficerTrustee | 1 | $0 |
Kay Rand Secretary | OfficerTrustee | 1 | $0 |
Beth Wiemann Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $454,803 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $454,803 |
| Total Program Service Revenue | $93,542 |
| Investment income | $37,646 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $195,465 |
| Net Income from Fundraising Events | $49,875 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $928,953 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $62,575 |
| Compensation of current officers, directors, key employees. | $40,675 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $124,560 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $24,340 |
| Payroll taxes | $15,199 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,110 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,109 |
| Office expenses | $15,988 |
| Information technology | $3,413 |
| Royalties | $0 |
| Occupancy | $67,590 |
| Travel | $9,074 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,619 |
| Insurance | $13,122 |
| All other expenses | $78,034 |
| Total functional expenses | $595,174 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $226,876 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $175,151 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,884 |
| Net Land, buildings, and equipment | $40,134 |
| Investments—publicly traded securities | $3,205,261 |
| Investments—other securities | $17,698 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,668,004 |
| Accounts payable and accrued expenses | $15,696 |
| Grants payable | $0 |
| Deferred revenue | $27,728 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $43,424 |
| Net assets without donor restrictions | $391,493 |
| Net assets with donor restrictions | $3,233,087 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,668,004 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bangor Symphony Orchestra has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Mimi Foundation Scarborough, ME PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $2,455,077 |
| Earnings | $625,261 |
| Net Contributions | $124,923 |
| Ending Balance | $3,205,261 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Portland Maine Symphony Orchestra Portland, ME | $14,736,748 | $3,659,418 |
Bangor Symphony Orchestra Bangor, ME | $3,668,004 | $928,953 |
Symphony New Hampshire Nashua, NH | $876,632 | $615,324 |
Midcoast Symphony Orchestra Brunswick, ME | $0 | $58,732 |
Seacoast Community Chamber Orchestra Portsmouth, NH | $210,385 | $0 |
Portland Chamber Music Festival Portland, ME | $177,531 | $0 |
New Hampshire Philharmonic Orchestra Incorporated Concord, NH | $89,497 | $0 |
Camerata New England Inc Hanover, NH | $47,814 | $0 |
Lakes Region Symphony Orchestra Meredith, NH | $93,292 | $0 |
The Nashua Community Chamber Orchestra Nashua, NH | $57,946 | $0 |